JakartaGlobe-Apr 7, 2021

The International Monetary Fund (IMF) has revised on Tuesday its 2021 global economic growth projection upward as a boost from the United States giant fiscal stimulus would propel the global economy while emerging countries like Indonesia underperform. The IMF World Economic Outlook projected the global economy would recover from its 3.3 percent contraction last year to expand by 6 percent this year, up from its January projection of 5.5 percent. The Finance Ministry said in its latest projection last month that Indonesia’s economy would still contract by 1 percent to 0.1 percent in the first quarter this year. Finance Minister Sri Mulyani Indrawati told the House of Representatives on Monday that economic activities in January and February had yet to recover as the government imposed micro-scale restrictions to curb the Covid-19 spread, which peaked during the months.

Read more at: https://jakartaglobe.id/business/imf-cuts-indonesia-growth-projection-amid-global-upgrades